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Jan 15, 2013
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. >> meanwhile, fed chairman ben bernanke speaking monday warned the u.s. economy isn't out of the woods yet and is still at risk from political gridlock. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effect of way to improve your credit rating. >> ben bernanke says the u.s. economy appears to be willing to raise the debt ceiling. it's downplaying fierce that this could lead to higher inflation. >>. >> what do you think? >> well, i think, you know, what we've seen in the beginning of the year, like the solution of the fiscal cliff for the fist time in the more global renegotiation, what bernanke know and the government is they don't want the economy to be in another recession. probably it's going to be a slow process, but the final aim i
. >> meanwhile, fed chairman ben bernanke speaking monday warned the u.s. economy isn't out of the woods yet and is still at risk from political gridlock. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family trying to improve its credit rating saying, i know how we can save money, we won't...
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Jan 18, 2013
01/13
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ben bernanke. pimco handing down 10 commandments from the fed. we will get divine intervention from pimco. >> an interview with john mcafee. he has a home here in america an he will be here to tell us where he is and what he's been up to. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. >>> hear me! all hear me! all pay heed, the lord, the lord jehovah, has given unto you these 15 -- wait, 10, 10 commandments. >> well, they're not quite carved in stone but with ben bernanke also has quite a few tasks on his check list. pimco came up with 10 comman
ben bernanke. pimco handing down 10 commandments from the fed. we will get divine intervention from pimco. >> an interview with john mcafee. he has a home here in america an he will be here to tell us where he is and what he's been up to. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight...
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Jan 14, 2013
01/13
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fed chief ben bernanke will be speaking at the university of michigan later on. he'll discuss monetary policy, recovery from the financial crisis and is long-term challenges facing the u.s. economy. bernanke's xhnts will set the tone for a fed meeting scheduled for later in the month. u.s. futures are looking to continue their gains. they're also near five-year highs. the s&p 500 is looking to add a couple more points today. the dow to the nasdaq is a lagger. joining us for more, michael gurka, from asset management. gate to see you this morning. five-year highs here. do you fade it? >> no, not yet, actually. because i've been taking my two from the dax which is in a serious breakout mode right now. so if we want to look at a parallel universe on some of these strong global equity markets, right now, the s&p has some room and i'm taking some precursors from some of the notions that you've been mentioning already concerning china because we've been getting gilt from the copper market, also. >> so is this about europe, then, or does it come back to china? >> well,
fed chief ben bernanke will be speaking at the university of michigan later on. he'll discuss monetary policy, recovery from the financial crisis and is long-term challenges facing the u.s. economy. bernanke's xhnts will set the tone for a fed meeting scheduled for later in the month. u.s. futures are looking to continue their gains. they're also near five-year highs. the s&p 500 is looking to add a couple more points today. the dow to the nasdaq is a lagger. joining us for more, michael...
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Jan 15, 2013
01/13
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jpmorgan has ordered to fix lapses in its risk management and fed chairman bernanke has a warning for congress. raise the debt ceiling or put the u.s. economy st. at risk. it's tuesday, january 15th, 2013 and "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. we've been watching the u.s. equity futures and at least at this point you can see they do look like they're indicated to open a little lower. right now, dow futures down by about 16 points below fair value. the s&p futures are about 2 points below fair value. we have some different nebs going on at the top of the screen than we do on that fair value board. we'll check on that, as well. >>> dell is said to be in talks with private companies in reports of a possible guyout. the journal says jpmorgan is involved in the negotiations. dell shares have been soaring near an eight-month high on first word of this news yesterday. you can see up about close to 2% to the premarket sales. 64 is the last dip. in other technology news,
jpmorgan has ordered to fix lapses in its risk management and fed chairman bernanke has a warning for congress. raise the debt ceiling or put the u.s. economy st. at risk. it's tuesday, january 15th, 2013 and "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. we've been watching the u.s. equity futures and at least at this point you can see they do look like...
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Jan 28, 2013
01/13
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but certainly just like ben bernanke can't solve our problems here in the united states,al mario draghi can't solve the eurozone's problems either. so i think the point you're making on competition are key to be worked on at this moment. and you can drive a lot of things through now in the eurozone because of the economic situation. >> will there be a euro in 10 or 20 years? >> i think hey they'll make it through. i think you can question who the members are going to be. i think, obviously, in the case of greece nobody wants to do anything because you've got elections coming up in germany in september with chance hour merkel. chancellor merkel. and everyone wants to hold it together. but at the end of the day, it's going to very much depend on whether greece can implement the programs they've agreed to. and i think there will be a euro, the question is what it'll look like and what the membership will be. because, you know, originally there was a big school of thought saying that the euro just should have been the northern tier of the membership, it shouldn't have taken in the so-called
but certainly just like ben bernanke can't solve our problems here in the united states,al mario draghi can't solve the eurozone's problems either. so i think the point you're making on competition are key to be worked on at this moment. and you can drive a lot of things through now in the eurozone because of the economic situation. >> will there be a euro in 10 or 20 years? >> i think hey they'll make it through. i think you can question who the members are going to be. i think,...
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Jan 11, 2013
01/13
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bernanke's term -- >> a year from now? >> that's what he's going to do. >> that's my guest. >> i am told he doesn't want to do it. but i'm also told that president obama as we know has been very persuasive, very effective at convincing geithner to do things he doesn't want to do. and, so, the question becomes what -- where could he go now? >> i think he's -- >> and still be eligible to come back -- that's the bigger discussion, which is in government, when it comes to -- then you go to wall street -- >> no, no, no. >> and come back -- >> he's going to come back and be a quarterback and get all the beautiful girls, i think. >> at alabama. >> at alabama. that is what i think -- >> roll tide. >> do you know how trouble musburger got in? >> shouldn't have gotten in any. that was ridiculous. >> can we roll tape on that? because we're showing geithner now. >> -- aging geithner. >> andrew you have it figured out. >> he's going to spend a year giving speeches. probably between $75,000 and $125,000 a pop. pop off about two of those
bernanke's term -- >> a year from now? >> that's what he's going to do. >> that's my guest. >> i am told he doesn't want to do it. but i'm also told that president obama as we know has been very persuasive, very effective at convincing geithner to do things he doesn't want to do. and, so, the question becomes what -- where could he go now? >> i think he's -- >> and still be eligible to come back -- that's the bigger discussion, which is in government, when it...
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Jan 29, 2013
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we want to emphasize with bernanke, will he come out and bat against some of these expectations? are they at a point where markets are going to keep pushing the fed here? >> the markets always push the fed. the fed, if we look back, for all of the respect i have for them, and among commentators, for all of my respect for the fed, they have not been particularly good long-term or even medium term economic forecasters. they've been much better at responding to situations in the market, sometimes better, sometimes worse. so the market always leads the fed and what the market is telling us right now is that, you know, the economic situation is finally getting better after the -- i don't know, what, six of the seven biblical years that follow a financial crisis like the u.s. went through, starting in fact most of the north atlantic went through starting in the beginning of -- or the fall of 2007. so we're getting there. that's what the market is saying. i expect the fed to listen. >> jerry, just on that one point about economic forecasting, i mean, even the best forecaster gets it rig
we want to emphasize with bernanke, will he come out and bat against some of these expectations? are they at a point where markets are going to keep pushing the fed here? >> the markets always push the fed. the fed, if we look back, for all of the respect i have for them, and among commentators, for all of my respect for the fed, they have not been particularly good long-term or even medium term economic forecasters. they've been much better at responding to situations in the market,...
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Jan 21, 2013
01/13
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you hear ben bernanke and others talk about how we know how we're going to exit and then privately they get together and they have not even discussed it. >> i don't know. i wonder if you haven't heerd more about the exit, at least in the early years, i think i heard a lot about the exit strategy and instead, the opposite came to bear. do you agree that it's time to exit the emergency stimulus measure? >> i don't think that pippa was saying that, actually, but i do agree with her that there isn't a clear exit stratgy. and i do agree that one of the things that has been boring all of these asset prices has been incredibly cheap money and the lack of an exit strategy. in terms of what you need to do at the moment, i think certainly -- i mean, in america, i would be tempted to start thinking about an exit strategy. i think in europe, we're still far too fragile. it's only eight months since we were looking at the abyss in europe. so i think in europe i would be tempted still to keep the stimulus going for a while. >> and from your point of view outside the u.s., we've heard a lot about how
you hear ben bernanke and others talk about how we know how we're going to exit and then privately they get together and they have not even discussed it. >> i don't know. i wonder if you haven't heerd more about the exit, at least in the early years, i think i heard a lot about the exit strategy and instead, the opposite came to bear. do you agree that it's time to exit the emergency stimulus measure? >> i don't think that pippa was saying that, actually, but i do agree with her...
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Jan 14, 2013
01/13
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but everybody when i came in this morning wanted to hear what bernanke is going to have to say at 4:00 today. of course he's going to be talking about monetary policy and is he going to come out and talk a little bit more about what's going on and whether there are -- how much dispute there really is about ending the bond purchase program that's out there. that kind of, to me, was the big story today, well the traders want to hear about it. >> taking some q&a? >> that's after the close. >> bob, thanks a lot. outrage over actually seeing a reduction in pay checks due to this bigger fiscal tax a big hot button today. how is it going to impact consumer spending? let's bring in diane swann, senior managing director with mesereau financial. we may have to break away for the president. but in the meantime, you think consumer spending is going to lag, the big question is, to what degree consumers have savings to soften the blow, right? >> exactly. and certainly the high income consumers have a lot more savings to cushion the blow. they don't tend to reflect a change in their tax code as much
but everybody when i came in this morning wanted to hear what bernanke is going to have to say at 4:00 today. of course he's going to be talking about monetary policy and is he going to come out and talk a little bit more about what's going on and whether there are -- how much dispute there really is about ending the bond purchase program that's out there. that kind of, to me, was the big story today, well the traders want to hear about it. >> taking some q&a? >> that's after...
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Jan 23, 2013
01/13
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bernanke is committed to keeping it low. as people realize it will go up, people will take opportunities of the low interest rate now. >> what's happening in washington from your standpoint? are you expecting a new fight around the debt ceiling in the united states? where are you in terms of this uncertainty surrounding what's going on in d.c.? >> well, there's always some uncertainty in d.c. and as will rogers famously said, the country's never safe as long as congress is in session. you never know exactly what congress is going to do. but i think the debt limit issue has been resolved really. we're going to get a three-month extension out of congress. the president will sign that. that will put it on the back burner for three months. a year or two would be better, but i think that would be good for the markets. >> we'll leave it there. good to have you on the program. david rubenstein, ceo of the carlisle group. >>> coming up, we'll talk with the chairman of emp power. we'll get a sense of the french banking system as well
bernanke is committed to keeping it low. as people realize it will go up, people will take opportunities of the low interest rate now. >> what's happening in washington from your standpoint? are you expecting a new fight around the debt ceiling in the united states? where are you in terms of this uncertainty surrounding what's going on in d.c.? >> well, there's always some uncertainty in d.c. and as will rogers famously said, the country's never safe as long as congress is in...
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Jan 30, 2013
01/13
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most important, ben bernanke, martha, is printing up a storm of money and a lot of it is going right into the stock market. therefore, the market rallies, even though the economy contracts. martha: that would be an argument for sort of a false fluffy high in the stock market, i would imagine, right? >> i will not predict the stock market now, tomorrow or into the future but i will tell you that the market despite that terrible economic news will open only maybe 15 points lower for the dow industrials this morning. martha: you think back, we were talking about the fact that gdp growth was under 2% and that was a real measly amount of growth in economy. now we're talking about it basically flat, zero. the u.s. economy stagnant. >> yes. we're returning to the pattern. basically we're bumping along the bottom, roughly 2% growth for year after year after year. it is just not good enough. it is nothing like the recovery we should have had but that's where we are. martha: yeah, we hope you're wrong, stuart. >> thank you. martha: i think you hope you're wrong but the numbers seem to point in
most important, ben bernanke, martha, is printing up a storm of money and a lot of it is going right into the stock market. therefore, the market rallies, even though the economy contracts. martha: that would be an argument for sort of a false fluffy high in the stock market, i would imagine, right? >> i will not predict the stock market now, tomorrow or into the future but i will tell you that the market despite that terrible economic news will open only maybe 15 points lower for the dow...
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Jan 29, 2013
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ben bernanke refuses to give up crisis mode operation. he continues to buy and buy and buy even though john taylor's op-ed, has written several, one with phil graham about three months ago that was great. it is going to be messy. i can't tell you exactly how messy but what i can tell you is at the end of the day whenever the fed decides to exit it is going to be a lot like this toothpaste. they will not be able to put it back in the tube much less try to get the stripes right. this is the notion that at some point they will acknowledge that they need to start pulling back. when will that be? i don't know. about the same time i'll turn off my lights when the wind starts blowing in my neighborhood which is never very windy. now, we'll have much more "squawk on the street" after i clean up and these messages. (announcer) at scottrade, our clients trade and invest exactly how they want. with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call
ben bernanke refuses to give up crisis mode operation. he continues to buy and buy and buy even though john taylor's op-ed, has written several, one with phil graham about three months ago that was great. it is going to be messy. i can't tell you exactly how messy but what i can tell you is at the end of the day whenever the fed decides to exit it is going to be a lot like this toothpaste. they will not be able to put it back in the tube much less try to get the stripes right. this is the...
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Jan 31, 2013
01/13
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i was at a bernanke luncheon couple weeks ago, he is very clear. they want 6.5% unemployment. want inflation above 2 to 2.5. ashley: that could be a long time the way it is moving now. >> gets back to the earlier point, if you're close to zero percent interest rate world for a while how do you look at globally diversified portfolio? you need multiasset risk strategies and understand how they fit in global portfolio context. washington will give us a lot of volatility. markets tend to look through that so you might want to use that volatility. tracy: quickly what derails you or derails this plan. >> washington partly got it right and wrong what they do best. european central bank took a lot of pressure off. interest rates come down. i would expect european politicians to get very complacent. that could be a risk. ashley: some believe that is already happening. >> steve wood, always excellent. ashley: good stuff, sieve. now to the debt ceiling talking about washington. the senate is expected to vote on a temporary measure. rich edson in washington with more on that. rich. >> sen
i was at a bernanke luncheon couple weeks ago, he is very clear. they want 6.5% unemployment. want inflation above 2 to 2.5. ashley: that could be a long time the way it is moving now. >> gets back to the earlier point, if you're close to zero percent interest rate world for a while how do you look at globally diversified portfolio? you need multiasset risk strategies and understand how they fit in global portfolio context. washington will give us a lot of volatility. markets tend to look...
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Jan 30, 2013
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i don't think it's crisis weak, but i think it is weak, so agreement with ben bernanke and the barbers of fedville. here's where i go in a different direction, hence the barber analogy is that if you consider who used to go to barbers, okay? if you were sick and you went to a barber, they would put leeches on you, bloodletting. that's why you had the wheel. if you didn't get better, you'd go back and they'd do the same thing. but is that why the patienting is getting better? with regard to the fed and the weak economy i think is evident to many, even if you can't take your eyes off the dow jones, the s&p or the nasdaq. oneme, going into the sixth year, that is whatever we're doing, the blood-letting, the leeches, it isn't working. just because it's weak doesn't mean you do more leeches. it means you re-evaluate. you re-evaluate. there were positives within these numbers. businesses are doing okay in certain areas, even better in others. the stock market might not necessary by be reflecting the economy but it is reflecting what makes america different in other countries. even though the
i don't think it's crisis weak, but i think it is weak, so agreement with ben bernanke and the barbers of fedville. here's where i go in a different direction, hence the barber analogy is that if you consider who used to go to barbers, okay? if you were sick and you went to a barber, they would put leeches on you, bloodletting. that's why you had the wheel. if you didn't get better, you'd go back and they'd do the same thing. but is that why the patienting is getting better? with regard to the...
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Jan 15, 2013
01/13
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bernanke weighing in on the debt ceiling in michigan late yesterday. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effective way to improve your credit rating. >> the metaphors, jim, whether it's a family not paying the credit card bills, the president saying it's like dining and dashing at a restaurant, the only thing is we've got two weeks of respite and then we're off to the races again. >> after the civil war, there was tremendous partisanship in this country. a tumultuous time. the level of bipartisanship. there's such hatred that you can't get in a room. it never seems like obama gets in the room. biden got in the room beforehand. but look, everybody hates each other down there. it's exactly the opposite of what you would expect from a respected nation
bernanke weighing in on the debt ceiling in michigan late yesterday. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effective way to improve your credit...
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Jan 11, 2013
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and could he possibly be looking to take, yes, bernanke's spot in 2014? okay. and what's in the water under 2 million and has a little something to do with giant quids. that in today's million-dollar minute. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pursuit. >>> inside and outside of the u.s. treasury, there is now what's come to be known as the geithner model for heading the department, navigating a crisis. how could that impact the man who is now nominated to succeed tim geithner? steve, good morning. >> thanks, carl. first of all, just to what you were talking about earlier, we understand geithner's going to hang out until january
and could he possibly be looking to take, yes, bernanke's spot in 2014? okay. and what's in the water under 2 million and has a little something to do with giant quids. that in today's million-dollar minute. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [...